Retail and Office Corridor
For Sale
$690,000
1732 NW 23rd Street, Oklahoma City, OK 73106
Commercial property offered for sale with options for retail and office use along a major OKC corridor.
Property Size2,412 SF
Days on Market116
Property Features for 1732 NW 23rd Street
General Information
Standard status
Active
Size
2,412 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,236
Building Details
Building Size
2,412 SF
Year Built
1999
Listing Agency:
Keller Williams Summit
Listed By:
Sue Yoon · License #144471
(405) 691-2556
Source:
Stetsonbentley
Added: Jun 14
Changed: Oct 1
Last Checked: Oct 5 at 11:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Summit
Investment Insights
Based on property information with market context.
This commercial property offers flexible use for retail and office tenants, with availability for purchase or lease. The offering also includes the adjacent opportunity at 1724 NW 23rd Street, which may support assemblage and expanded development possibilities where additional space is needed.
The property is positioned on the NW 23rd Street corridor within the broader Plaza District and nearby entertainment, dining, retail, and cultural destinations. It is described as minutes from I-44 and I-235, supporting convenient access for visitors and day-to-day operations.
The property is presented as an owner-user, investor, or redevelopment option, with the adjacent parcel potentially creating additional frontage and space for operational needs such as outdoor seating or storage, subject to applicable approvals.
The property is positioned on the NW 23rd Street corridor within the broader Plaza District and nearby entertainment, dining, retail, and cultural destinations. It is described as minutes from I-44 and I-235, supporting convenient access for visitors and day-to-day operations.
The property is presented as an owner-user, investor, or redevelopment option, with the adjacent parcel potentially creating additional frontage and space for operational needs such as outdoor seating or storage, subject to applicable approvals.
Key Highlights
- Commercial property on NW 23rd Street in Oklahoma City’s active entertainment, dining, retail, and cultural corridor
- Minutes from I‑44 and I‑235 for convenient access
- Offered for sale or lease; lease rate listed at $3,500 per month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,613
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$952,260
$952.3K
Cap Rate 7%
$680,186
$680.2K
Cap Rate 9%
$529,033
$529.0K
Market Conditions
NOI Build-Up for 2,412 SF
Gross rent
$72.4K $30.00/SF
− Vacancy
−$4.3K −$1.80/SF
EGI
$68.0K $28.20/SF
− OpEx
−$20.4K −$8.46/SF
NOI
$47.6K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$952,260
Cap Rate 7%
$680,186
Cap Rate 9%
$529,033
Alternative Uses
Best Use
Retail
$680.2K
$595.2K – $793.6K
NOI $47,613 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$824.9K
$721.8K – $962.4K
NOI $57,743 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 40%
Electronics 6%
SONIC Drive In
Dining
6,354 visits/mo
0.2 miles
Family Dollar
Shops & Services
4,689 visits/mo
0.3 miles
AutoZone
Shops & Services
3,073 visits/mo
0.2 miles
Cash America Pawn
Shops & Services
893 visits/mo
0.2 miles
Cricket Wireless Authorized Retailer
Electronics
531 visits/mo
0.2 miles
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Oklahoma City, OK
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial property offered for sale with options for retail and office use along a major OKC corridor.
Where is this retail space located?
The property is located at 1732 NW 23rd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Commercial property on NW 23rd Street in Oklahoma City’s active entertainment, dining, retail, and cultural corridor; Minutes from I‑44 and I‑235 for convenient access; Offered for sale or lease; lease rate listed at $3,500 per month
